MATGENIX
ActiveSummary
MATGENIX has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €316,548 and a net result of -€87,226. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 60% of 9743 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency89▼-11
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 2.73 against 4.4 in 2024; short-term debt: 35.7% and cash: 73.1% of total assets), and 35.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 5 filingsDeviation from the deadline
2025
5 d late
2024
35 d early
2023
34 d early
2022
45 d early
2021
51 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 32 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 26 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€316,548▼ 31.5%
2024 · €462,178
Total assets
€491,992▼ 17.0%
2024 · €592,972
Net result
-€87,226
2024 · €166,888
Working capital
€303,927▼ 31.6%
2024 · €444,129
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€152,598-€163,452▲ 7.1%-€36,258€181,213-€87,680
Net result€118,889above the sector's middle half-€131,931above the sector's middle half▲ 11.0%-€37,133below the sector's middle half€166,888above the sector's middle half-€87,226below the sector's middle half
Equity€138,889within the sector's middle half-€402,330above the sector's middle half▲ 190%€354,597above the sector's middle half▼ 11.9%€462,178above the sector's middle half▲ 30.3%€316,548above the sector's middle half▼ 31.5%
Total assets€173,814within the sector's middle half-€478,192above the sector's middle half▲ 175%€443,434above the sector's middle half▼ 7.3%€592,972above the sector's middle half▲ 33.7%€491,992above the sector's middle half▼ 17.0%
Debt€34,926-€75,862▲ 117%€88,837▲ 17.1%€130,794▲ 47.2%€175,443▲ 34.1%
Working capital€137,523above the sector's middle half-€383,969above the sector's middle half▲ 179%€337,118above the sector's middle half▼ 12.2%€444,129above the sector's middle half▲ 31.7%€303,927above the sector's middle half▼ 31.6%
Solvency79.9%above the sector's middle half-84.1%above the sector's middle half▲ 4.2pp80.0%above the sector's middle half▼ 4.2pp77.9%above the sector's middle half▼ 2.0pp64.3%within the sector's middle half▼ 13.6pp
Current ratio4.94above the sector's middle half-6.06above the sector's middle half▲ 1.124.79above the sector's middle half▼ 1.274.40above the sector's middle half▼ 0.402.73within the sector's middle half▼ 1.66
Return on assets (ROA)68.4%above the sector's middle half-27.6%above the sector's middle half▼ 40.8pp-8.4%below the sector's middle half▼ 36.0pp28.1%above the sector's middle half▲ 36.5pp-17.7%below the sector's middle half▼ 45.9pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €87,680 after €181,213 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €491,992
Fixed assets
€12,621 ▼ 30.1%
Current assets
€479,371 ▼ 16.6%
Equity and liabilities €491,992
Equity
€316,548 ▼ 31.5%
Debt
€175,443 ▲ 34.1%
Debt's share of the balance-sheet total rises from 22.1% to 35.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€78,601▼
2024 · €188,258
Cash flow
-€78,147▼
2024 · €173,933
Debt to equity
0.55▲
2024 · 0.28
ROE
-27.6%▼
2024 · 36.1%
Interest coverage
-59.13▼
2024 · 89.81
Debt ≤ 1 year
€175,443▲
2024 · €130,794
Income taxes
€722▼
2024 · €12,229
Staff costs
€201,988▲
2024 · €175,495
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 224 companies that looked in July 2024 the way this one looks now, 4.0% went bankrupt within 24 months and 88% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
4.0%
went bankrupt
7.1%
stopped otherwise
88%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 224 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €54,687 | €115,334 | €175,495 | €201,988 | ▲ 15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,840 | €1,774 | €5,051 | €7,045 | €9,079 | ▲ 28.9% |
| Other operating charges640/8 | €608 | €602 | €549 | €581 | €365 | ▼ 37.1% |
| Gross operating margin9900 | €155,047 | €220,515 | €84,676 | €364,333 | €123,752 | ▼ 66.0% |
| Operating profit (loss)9901 | €152,598 | €163,452 | -€36,258 | €181,213 | -€87,680 | ▼ 148% |
| Financial income75/76B | - | €5 | €36 | €0 | €2,505 | ▲ 835,007% |
| Recurring financial income75 | - | €5 | €36 | €0 | €2,505 | ▲ 835,007% |
| Financial charges65/66B | €44 | €215 | €837 | €2,096 | €1,329 | ▼ 36.6% |
| Recurring financial charges65 | €44 | €215 | €837 | €2,096 | €1,329 | ▼ 36.6% |
| Profit (loss) for the period before taxes9903 | €152,554 | €163,242 | -€37,059 | €179,117 | -€86,504 | ▼ 148% |
| Income taxes67/77 | €33,666 | €31,312 | €74 | €12,229 | €722 | ▼ 94.1% |
| Profit (loss) for the period9904 | €118,889 | €131,931 | -€37,133 | €166,888 | -€87,226 | ▼ 152% |
| Profit (loss) for the period to be appropriated9905 | €118,889 | €131,931 | -€37,133 | €166,888 | -€87,226 | ▼ 152% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €173,814 | €478,192 | €443,434 | €592,972 | €491,992 | ▼ 17.0% |
| Fixed assets21/28 | €1,366 | €18,361 | €17,479 | €18,049 | €12,621 | ▼ 30.1% |
| Tangible fixed assets22/27 | €1,366 | €18,361 | €17,479 | €18,049 | €12,621 | ▼ 30.1% |
| Plant, machinery and equipment23 | €352 | €17,610 | €16,990 | €17,823 | €12,621 | ▼ 29.2% |
| Furniture and vehicles24 | €1,014 | €751 | €489 | €226 | - | - |
| Current assets29/58 | €172,448 | €459,830 | €425,956 | €574,923 | €479,371 | ▼ 16.6% |
| Amounts receivable within one year40/41 | €5,628 | €115,063 | €95,148 | €137,709 | €119,710 | ▼ 13.1% |
| Trade receivables40 | - | €92,635 | €77,407 | €95,166 | €18,332 | ▼ 80.7% |
| Other amounts receivable41 | €5,628 | €22,429 | €17,741 | €42,544 | €101,379 | ▲ 138% |
| Cash at bank and in hand54/58 | €166,820 | €344,767 | €330,808 | €437,214 | €359,661 | ▼ 17.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €173,814 | €478,192 | €443,434 | €592,972 | €491,992 | ▼ 17.0% |
| Equity10/15 | €138,889 | €402,330 | €354,597 | €462,178 | €316,548 | ▼ 31.5% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €118,889 | €250,819 | €213,686 | €380,574 | €293,348 | ▼ 22.9% |
| Investment grants15 | - | €131,511 | €120,911 | €61,603 | €3,200 | ▼ 94.8% |
| Amounts payable17/49 | €34,926 | €75,862 | €88,837 | €130,794 | €175,443 | ▲ 34.1% |
| Amounts payable within one year42/48 | €34,926 | €75,862 | €88,837 | €130,794 | €175,443 | ▲ 34.1% |
| Trade debts44 | €5,051 | €16,624 | €18,428 | €4,605 | €45,553 | ▲ 889% |
| Suppliers440/4 | €5,051 | €16,624 | €18,428 | €4,605 | €45,553 | ▲ 889% |
| Taxes, remuneration and social security45 | €1,191 | €5,463 | €28,312 | €69,344 | €69,488 | ▲ 0.2% |
| Taxes450/3 | €1,191 | €4,045 | €7,819 | €33,703 | €18,641 | ▼ 44.7% |
| Remuneration and social security454/9 | - | €1,417 | €20,494 | €35,640 | €50,847 | ▲ 42.7% |
| Other amounts payable47/48 | €28,684 | €53,775 | €42,097 | €56,846 | €60,402 | ▲ 6.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €118,889 | €131,931 | -€37,133 | €166,888 | -€87,226 | ▼ 152% |
| + Depreciation and write-downs630 | €1,840 | €1,774 | €5,051 | €7,045 | €9,079 | ▲ 28.9% |
| Operating cash flow (approximation) | €120,729 | €133,704 | -€32,082 | €173,933 | -€78,147 | ▼ 145% |
| Investment in fixed assets (approximation) | - | -€18,769 | -€4,168 | -€7,615 | -€3,651 | ▲ 52.1% |
| Change in cash | - | €177,947 | -€13,959 | €106,406 | -€77,553 | ▼ 173% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
31-12
Financial
Weakest financial yearnet -€87,226
Net result drops to -€87,226, the lowest in the series.
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €166,888
Net result €166,888 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €402,330 ▲190%
2 profitable years in a row build equity to €402,330.
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Thuin · 2 establishment units since 2020
Ground area
4,341 m²
Building footprint
250 m²
Volume, LiDAR
986 m³
2 parcels, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
MATGENIX
since 20202.304.024.370
A6K
since 20202.312.323.513
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56030B0122/00W000 | Wallonia | 2,307 m² | 1 · 128 m² | - |
| 56030B0043/00E000 | Wallonia | 2,034 m² | 1 · 122 m² | 9.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Subsidies and aid
European Union, budget
2022 · 5 entries · 459,310 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2022 | 5 | 459,310 EUR |
Projects
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European research
8 projects · 1,681,358 EUR EU contributionProgrammes
Projects
AI-MULTISCALE INTEGRATION FOR WASTE-TO-VALUE DIGITAL TWINS
Alkaline ELectrolysis - Innovative materials and Operating Systems to boost efficiency and durability under dynamic operation
Ni-BASED FERROMAGNETIC COATINGS WITH ENHANCED EFFICIENCY TO REPLACE Pt IN ENERGY & DIGITAL STORAGE APPLICATIONS
Anionic Exchange Membrane water ELectrolysis for highLY efficIenTcy sustAinable, and clean Hydrogen production
Bridging Models at Different Scales To Design New Generation Fuel Cells for Electrified Mobility
Show 3 more projects
Pioneering Membrane Solutions for a Sustainable Future
Sustainable Materials-by-Design For Renewable Energy
Integrating Voltage-Driven Ionics with Magnetism for Low-Power Memory and Advanced Computing: A Training Initiative on Energy-Efficient Information Technologies
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Of 11,567 companies in this sector we hold annual accounts for 6,567. 4,851 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded25-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
72109Other research and development on natural sciences
74999Other professional, scientific and technical activities
Contact
E-mail
info@matgenix.com
Phone
+32479575708
E-mail
david.waroquiers@matgenix.comThuin
E-invoicing
Reachable via Peppol
Peppol ID
0208:0748971048
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.